XRP Holders Quietly Build Positions In A Pattern That Echoes Earlier Cycles
Following a brief price increase, XRP has pulled back amid broader crypto market volatility. However, on-chain data from Glassnode reveals a significant accumulation phase is underway, particularly among short-term holders. Their buying pattern strongly resembles the behavior observed in February 2022, suggesting a return of bullish sentiment. This quiet accumulation, happening below the cost basis of mid-term holders, is a pattern that has preceded price rallies in the past.
Crypto expert Bird argues that XRP's growing role in the financial sector for liquidity, payments, and tokenization positions it as a foundational asset, not just a speculative one. This utility, according to the analyst, could potentially drive the token to a new all-time high. The current activity indicates that patient holders may be rewarded as conviction-driven capital absorbs supply before a wider market move.
bitcoinist01/21 14:32